Day: December 26, 2022

Bitcoin accumulation addresses near record 800K despite whale selling

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Bitcoin (BTC) accumulation is nearing a new milestone this Christmas as redistribution of the BTC supply continues. Data from on-chain analytics firm Glassnode shows that the total BTC balance of so-called “accumulation addresses” is nearing all-time highs. “HODL-only” BTC addresses climb closer to 1 million mark Behind the scenes in the 2022 Bitcoin bear market, certain entities are in no doubt over their BTC investment strategy. According to Glassnode, Bitcoin accumulation addresses are more numerous than ever before, while the BTC balance they contain is almost at a record high.…

Defrost v1 hacker reportedly returns funds as ‘exit scam’ allegations surface

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On Dec. 26, blockchain security firm CertiK issued a warning alleging that Defrost Finance, a decentralized leverage-trading platform on the Avalanche blockchain that recently suffered an exploit, is an “exit scam.” The move came just as Defrost announced that “the hacker involved in the V1 hack [but not the v2 hack] has returned the funds.” CertiK wrote:  “On 24 December we have seen an #exitscam on @Defrost_Finance. We have attempted to contact multiple members of the team but have had no response. The team are not KYC’d but we are…

How Web3 Started Playing Positive-Sum Games

In the first two years of the decade, driven by headlines, rising prices and FOMO, thousands of traders entered Web3 with the intention of making a quick buck. And despite a steep sell-off this year, crypto continued to go mainstream. There were Super Bowl ads. News of banks using decentralized finance (DeFi). And, yes, negative press about all the bankruptcies. Source

Bitcoin mining pool BTC.com reports $3M cyberattack

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Major cryptocurrency mining pool BTC.com has suffered a cyberattack resulting in a significant loss of funds by the company and its customers. BTC.com experienced a cyberattack on Dec. 3, with attackers stealing around $700,000 in client assets and $2.3 million in the company’s assets, the mining pool’s parent firm BIT Mining Limited officially announced on Dec. 26. BIT Mining and BTC.com reported the cyberattack to law enforcement authorities in Shenzhen, China. The local authorities subsequently launched an investigation into the incident, starting collecting evidence and requesting assistance from relevant agencies…

BTC, ETH Consolidate on Monday as Markets Remain Sluggish Following Christmas – Market Updates Bitcoin News

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Cryptocurrencies were mostly consolidating on Dec. 26, as markets remained muted following the Christmas weekend. Bitcoin remained marginally above a key support point at $16,800, whilst ethereum remained near a ceiling at the $1,230 mark. Overall, the global crypto market is up 0.20% as of writing. Bitcoin Bitcoin (BTC) remained slightly above a ceiling at the $16,800 level to start the week, as markets remained mostly unchanged following the Christmas weekend. Trading volume typically slows down during the holiday period, with most financial markets shutting down. Cryptocurrency markets however remained…

Italy to create the crypto art Renaissance: NFT market report

Italy is one of the cultural hubs of Europe, with centuries of history, art and culture. Now, it is also posed to create the crypto art Renaissance via its nonfungible token (NFT) market, says a new report. Data from Research and Market’s “Italy NFT Market Intelligence and Future Growth Dynamics Databook” says the country is projected to have a growth of 47.6% in its NFT market by the end of 2022. This would make the Italian NFT market hover around a $671 million valuation. Moreover, over the next five years,…